Since being named CFO of University of Missouri Health Care and the MU School of Medicine in Columbia in January, Brian Steines has put together some big plans for the system.
Mr. Steines has only been serving is his current role for three months, but healthcare leadership is nothing new to him. He previously served as vice president of financial operations for Scottsdale (Ariz.) Lincoln Health Network's Arizona market for more than seven years. He oversaw financial operations for five acute-care hospitals and roughly $1.5 billion in revenue while he held that position.
He's also held executive-level leadership positions with other systems, including Naples, Fla.-based Health Management Associates and Nashville, Tenn.-based Vanguard Health Systems.
Becker's had the opportunity to catch up with Mr. Steines and get his insight on a number of issues, including what he believes are the biggest challenges facing hospital and health system CFOs today.
Question: You were recently named CFO of University of Missouri Health Care and MU School of Medicine. What are some of your goals for the system in 2015?
Brian Steines: My goals include continuing to integrate financial operations between MU Health Care and the MU School of Medicine. We are all on the same team, with the same three-part mission of healing, teaching and discovery, and our financial operations need to be fully and seamlessly integrated to advance our mission.
Other goals include building relationships with key constituents (executives, medical school department chairs and associate deans, direct reports and other leadership throughout MU Health Care and the School of Medicine, as well as the University of Missouri and UM System), enhancing transparency and communication about the financial results of our organizations, making immediate improvements in short-term projects such as capital and operations budgets that must be completed in the next couple of months, ensuring a successful ICD-10 conversion and evaluating our narrow network results.
Q: What is the biggest challenge facing hospital and health system CFOs today? How are you handling those challenges?
BS: In my opinion, the biggest challenge facing hospital and health system CFOs today is maintaining and improving access to care, quality, medical education and life-saving research while experiencing decreased reimbursement and decreased funding for education and research. Other challenges we face include adjusting to changing payment mechanisms — shifting from volume to value, moving the organization forward in clinical integration and population health management. To address these challenges, we are working to build consensus through transparency, education and leadership.
Q: What are some of your greatest accomplishments as CFO?
BS: My three biggest accomplishments to date are: improving transparency and communications related to our financial results; improving the capital budgeting process by creating a rollover for unused capital funds and establishing processes around the Executive Capital Committee and the Routine Capital Committee; and becoming a full-fledged Tiger — MIZ!